c*******r
发帖数: 6971 | | h******s
发帖数: 3420 | 2 i guess ER leak le
must be good
this pre er run never happen before
【在 c*******r 的大作中提到】
: 6.9×
| T******J
发帖数: 829 | | y*****e
发帖数: 1449 | 4 给个链接如何！
【在 T******J 的大作中提到】
: 出了!
| o*******n
发帖数: 2035 | 5 AMR Corporation Reports Third Quarter Profit of $143 Million
Substantial Improvement Compared to Last Year, Despite Higher Fuel Prices
Recent Highlights Include: Launched Joint Business with British Airways and
Iberia
Received Tentative DOT Approval for Antitrust Immunity with Japan Airlines
Enhancing Strategic Position in Los Angeles
AMR Corporation On Wednesday October 20, 2010, 11:00 am
FORT WORTH, Texas, Oct. 20 /PRNewswire-FirstCall/ -- AMR Corporation, the
parent company of American Airlines, Inc., today reported a net profit of $
143 million for the third quarter of 2010, or $0.39 per diluted share.
The current quarter results compare to a net loss of $359 million for the
third quarter 2009, or $1.26 per share, which included the impact of
approximately $94 million in non-recurring charges related to the sale of
certain aircraft and the grounding of leased Airbus A300 aircraft prior to
lease expiration. Excluding those non-recurring charges, the third quarter
2009 loss was $265 million, or $0.93 per share.
"We are pleased to report our first profitable quarter, excluding special
items, since the third quarter of 2007, " said AMR Chairman and CEO Gerard
Arpey. "Our entire team is intensely focused on building strong momentum
from our cornerstone, partnership and alliance strategies that enhance our
global network reach. We are excited about our recently launched Joint
Business in the trans-Atlantic with British Airways and Iberia and the
forthcoming opportunity with Japan Airlines in the Pacific, as well as
additional network enhancements in key markets. While there is clearly much
more work to do, our results show significant improvement in revenue and
reflect our continued dedication to controlling costs."
Arpey also highlighted several recent developments that demonstrate the
Company's progress in executing on its strategic initiatives under Flight
Plan 2020.
Joint Business with British Airways and Iberia
American Airlines, British Airways and Iberia launched their Joint Business
between North America and Europe on Oct. 1. The American, British Airways
and Iberia trans-Atlantic business, initially representing approximately $7
billion in combined revenue between the carriers, will offer seamless
service to 433 destinations in 105 countries, with 5,178 daily departures
worldwide.
As part of enhancing the new Joint Business, American, British Airways and
Iberia announced service to four new key routes, beginning spring 2011. They
are: New York JFK-Budapest and Chicago-Helsinki (operated by American
Airlines), London Heathrow-San Diego (operated by British Airways) and
Madrid-Los Angeles (operated by Iberia). Also in spring 2011, American will
add additional frequencies from JFK to Barcelona and Miami to Madrid.
Recall of Approximately 800 Furloughed Employees
American announced in early October that it is sending recall notices to 545
flight attendants and 250 pilots. Several factors contributed to the
company's ability to recall, primarily its efforts to capitalize on new
international flying and business opportunities with British Airways and
Iberia, continuing to strengthen its cornerstone hubs, preparing for its
pending alliance with Japan Airlines, and its current staffing needs.
Tentative DOT Approval for Antitrust Immunity with Japan Airlines
Also since the close of the third quarter, American Airlines and Japan
Airlines received tentative approval of the antitrust immunity application
filed by the two airlines in February. By this action, the Department of
Transportation has moved another step closer to granting antitrust immunity
to the two airlines.
Under an immunized agreement, the two airlines anticipate cooperating
commercially on flights between North America and Asia. This Joint Business
opportunity represents significant growth opportunities for American long
term as the Pacific region currently accounts for only about 4 percent of
American's total system capacity.
Enhancing Strategic Position in Los Angeles
Today, the Company announced the next step in its cornerstone strategy,
enhancing service in Los Angeles with a 28 percent increase in daily
departures. AMR plans to launch new service from Los Angeles to Shanghai,
China, as well as nine new domestic markets by spring 2011. New flights
between Los Angeles and Shanghai are scheduled to begin on April 5, 2011.
Financial and Operational Performance
AMR reported third quarter consolidated revenues of approximately $5.8
billion, an increase of 14.0 percent year over year. American, its regional
affiliates, and AA Cargo, all experienced double-digit, year-over-year
increases, as total operating revenue was approximately $715 million better
in third quarter 2010 compared to the third quarter 2009.
Consolidated passenger revenue per available seat mile (unit revenue) grew
10.7 percent compared to the third quarter 2009, and mainline unit revenue
at American also grew 10.7 percent. Improving economic conditions and strong
load factors drove higher unit revenue.
Passenger yield, which represents the average fares paid, increased at
American by 10.7 percent year over year in the third quarter.
Mainline unit costs in the third quarter 2010 decreased 0.7 percent year
over year, excluding fuel costs and 2009 non-recurring charges.
Including the impact of fuel hedging, AMR paid $123 million more for jet
fuel in the third quarter, at an average of $2.24 per gallon, than it would
have paid at prices prevailing during the third quarter 2009, when it paid $
2.07 per gallon.
Mainline capacity, or total available seat miles, increased in the third
quarter by 3.6 percent compared to the prior year's third quarter, as the
Company continues to maintain capacity discipline and selectively allocate
capacity for growth markets such as China.
American's mainline load factor – or percentage of total seats filled –
was 84.0 percent during the third quarter, maintaining strong levels that
are consistent with the year-ago period.
Balance Sheet Update
AMR ended the third quarter with approximately $5.0 billion in cash and
short-term investments, including a restricted balance of $447 million,
compared to a balance of $4.6 billion in cash and short-term investments,
including a restricted balance of $459 million, at the end of the third
quarter 2009.
AMR's Total Debt, which it defines as the aggregate of its long-term debt,
capital lease obligations, the principal amount of airport facility tax-
exempt bonds, and the present value of aircraft operating lease obligations,
was $16.2 billion at the end of the third quarter 2010, compared to $15.7
billion a year earlier.
AMR's Net Debt, which it defines as Total Debt less unrestricted cash and
short-term investments, was $11.6 billion at the end of the third quarter,
comparable to the third quarter 2009.
Other Third Quarter and Recent Highlights:
American Eagle began First Class service onboard all of its CRJ-700 aircraft
. Additionally, American Eagle started taking delivery of 22 new CRJ-700
aircraft – a significant investment by AMR to enhance its product offering
to better compete in key business markets.
American signed a memorandum of understanding with Air Berlin, the fifth
largest carrier in Europe, outlining a comprehensive codeshare and frequent
flyer relationship. The Company expects to implement its codeshare with Air
Berlin before the end of 2010 and anticipates that Air Berlin will join
oneworld® in early 2012. With hubs in Berlin and Dusseldorf, Air Berlin
offers service to more than 160 cities in Europe, Russia, the Middle East,
and North America, which will complement American's network.
American, which offers more flights to Brazil than any other U.S. airline,
launched codesharing on flights operated by GOL Airlines between Sao Paulo
and Salvador, Belem, Brasilia, Curitiba, Fortaleza, Manaus, Natal, Porto
Alegre and Recife, as well as between Rio de Janeiro and Porto Alegre.
American Airlines and JetBlue Airways implemented their commercial agreement
, offering customers convenient connections and more travel options to and
from New York and Boston.
American Airlines and Jetstar, a Qantas Group airline, signed an agreement
establishing a codeshare relationship between several destinations in New
Zealand.
American Airlines and WestJet Airlines entered into an interline agreement,
expanding travel options to more cities in Canada for American's customers.
Guidance
Mainline and Consolidated Capacity
AMR expects its full-year mainline capacity to increase by 1.0 percent in
2010 compared to 2009, with domestic capacity up 0.2 percent and an increase
of international capacity of 2.4 percent compared to 2009 levels. On a
consolidated basis, AMR expects full-year capacity to increase by 1.4
percent in 2010 compared to 2009.
The Company's 2010 capacity levels include the reinstatement of flying that
was canceled in 2009 due to the H1N1 virus and the launch of Chicago-Beijing
service, which was deferred from 2009.
AMR expects mainline capacity in the fourth quarter 2010 to increase by 3.4
percent compared to the fourth quarter 2009, with domestic capacity expected
to be up 0.5 percent and international capacity expected to be up 8.2
percent compared to fourth quarter 2009 levels. AMR expects consolidated
capacity in the fourth quarter 2010 to increase by 4.1 percent compared to
the fourth quarter 2009.
Fuel Expense and Hedging
While the cost of jet fuel has been increasing recently and remains very
volatile, based on the Oct. 1 forward curve, AMR is planning for an average
system price of $2.41 per gallon in the fourth quarter 2010 and $2.31 per
gallon for all of 2010. Consolidated consumption for the fourth quarter is
expected to be 684 million gallons of jet fuel.
AMR has 40 percent of its anticipated fourth quarter 2010 fuel consumption
hedged at an average cap of $2.33 per gallon of jet fuel equivalent ($84 per
barrel crude equivalent), with 40 percent subject to an average floor of $1
.77 per gallon of jet fuel equivalent ($61 per barrel crude equivalent). AMR
has 38 percent of its anticipated full-year consumption hedged at an
average cap of $2.42 per gallon of jet fuel equivalent ($90 per barrel crude
equivalent), with 37 percent subject to an average floor of $1.82 per
gallon of jet fuel equivalent ($65 per barrel crude equivalent).
Mainline and Consolidated Cost per Available Seat Mile (CASM), Excluding
Special Items
4Q2010 (est.) vs. 4Q2009
H/(L)
Full year 2010 (est.) vs. 2009
H/(L)
Mainline
(0.5%)
4.4%
Excluding Fuel
(3.5%)
1.2%
Consolidated
(0.2%)
4.4%
Excluding Fuel
(3.3%)
1.1%
The estimated 1.1 percent increase in consolidated cost per seat mile for
2010, excluding fuel and special items, is primarily due to anticipated
higher revenue-related expenses (such as credit card fees, commissions, and
booking fees), airport-related expenses (such as landing fees and facilities
costs), and financing costs related to new aircraft deliveries.
Statements in this release contain various forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, which
represent the Company's expectations or beliefs concerning future events.
When used in this release, the words "expects," "plans," "anticipates," "
indicates," "believes," "forecast," "guidance," "outlook," "may," "will," "
should," "seeks," "targets" and similar expressions are intended to identify
forward-looking statements. Similarly, statements that describe our
objectives, plans or goals, or actions we may take in the future, are
forward-looking statements. Forward-looking statements include, without
limitation, the Company's expectations concerning operations and financial
conditions, including changes in capacity, revenues, and costs; future
financing plans and needs; the amounts of the Company's unencumbered assets
and other sources of liquidity; fleet plans; overall economic and industry
conditions; plans and objectives for future operations; regulatory approvals
and actions, including the Company's application for antitrust immunity
with other oneworld alliance members; and the impact on the Company of its
results of operations in recent years and the sufficiency of its financial
resources to absorb that impact. Other forward-looking statements include
statements which do not relate solely to historical facts, such as, without
limitation, statements which discuss the possible future effects of current
known trends or uncertainties, or which indicate that the future effects of
known trends or uncertainties cannot be predicted, guaranteed or assured.
All forward-looking statements in this release are based upon information
available to the Company on the date of this release. The Company undertakes
no obligation to publicly update or revise any forward-looking statement,
whether as a result of new information, future events, or otherwise. This
release includes forecasts of unit cost and revenue performance, fuel prices
and fuel hedging, capacity and traffic estimates, other income/expense
estimates, share count, statements regarding the Company's liquidity, and
statements regarding expectations of regulatory approval of our application
for antitrust immunity with other oneworld members, each of which is a
forward-looking statement. Forward-looking statements are subject to a
number of factors that could cause the Company's actual results to differ
materially from the Company's expectations. The following factors, in
addition to other possible factors not listed, could cause the Company's
actual results to differ materially from those expressed in forward-looking
statements: the materially weakened financial condition of the Company,
resulting from its significant losses in recent years; very weak demand for
air travel and lower investment asset returns resulting from the severe
global economic downturn; the Company's need to raise substantial additional
funds and its ability to do so on acceptable terms; the ability of the
Company to generate additional revenues and reduce its costs; continued high
and volatile fuel prices and further increases in the price of fuel, and
the availability of fuel; the Company's substantial indebtedness and other
obligations; the ability of the Company to satisfy certain covenants and
conditions in certain of its financing and other agreements; changes in
economic and other conditions beyond the Company's control, and the volatile
results of the Company's operations; the fiercely and increasingly
competitive business environment faced by the Company; potential industry
consolidation and alliance changes; competition with reorganized carriers;
low fare levels by historical standards and the Company's reduced pricing
power; changes in the Company's corporate or business strategy; extensive
government regulation of the Company's business; conflicts overseas or
terrorist attacks; uncertainties with respect to the Company's international
operations; outbreaks of a disease (such as SARS, avian flu or the H1N1
virus) that affects travel behavior; labor costs that are higher than those
of the Company's competitors; uncertainties with respect to the Company's
relationships with unionized and other employee work groups; increased
insurance costs and potential reductions of available insurance coverage;
the Company's ability to retain key management personnel; potential failures
or disruptions of the Company's computer, communications or other
technology systems; losses and adverse publicity resulting from any accident
involving the Company's aircraft; interruptions or disruptions in service
at one or more of the Company's primary market airports; the heavy taxation
of the airline industry; changes in the price of the Company's common stock;
and the ability of the Company to reach acceptable agreements with third
parties. Additional information concerning these and other factors is
contained in the Company's Securities and Exchange Commission filings,
including but not limited to the Company's Annual Report on Form 10-K for
the year ended December 31, 2009.
Detailed financial information follows:
AMR CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share amounts)
(Unaudited)
Three Months Ended
September 30,
Percent
Change
2010
2009
Revenues
Passenger
- American Airlines
$ 4,455
$ 3,882
14.8%
- Regional Affiliates
618
523
18.1
Cargo
167
136
22.6
Other revenues
602
586
2.7
Total operating revenues
5,842
5,127
14.0
Expenses
Wages, salaries and benefits
1,732
1,701
1.8
Aircraft fuel
1,613
1,453
11.0
Other rentals and landing fees
355
344
3.2
Maintenance, materials and repairs
334
329
1.7
Depreciation and amortization
274
272
0.6
Commissions, booking fees and credit card expense
256
222
15.4
Aircraft rentals
148
126
17.3
Food service
129
128
0.5
Special charges
-
64
(100.0)
Other operating expenses
659
682
(3.4)
Total operating expenses
5,500
5,321
3.4
Operating Income (Loss)
342
(194)
*
Other Income (Expense)
Interest income
8
7
17.9
Interest expense
(204)
(182)
11.6
Interest capitalized
7
11
(33.6)
Miscellaneous – net
(10)
(31)
(67.7)
(199)
(195)
2.1
Income (Loss) Before Income Taxes
143
(389)
*
Income tax expense (benefit)
-
(30)
(100.0)
Net Income (Loss)
$ 143
$ (359)
*
Earnings (Loss) Per Share
Basic
$ 0.43
$ (1.26)
Diluted
$ 0.39
$ (1.26)
Number of Shares Used in Computation
Basic
333
285
Diluted
389
285
* Greater than 100%
AMR CORPORATION
OPERATING STATISTICS
(Unaudited)
Three Months Ended September 30,
Percent
2010
2009
Change
American Airlines, Inc. Mainline Jet Operations
Revenue passenger miles (millions)
33.546
32,352
3.7%
Available seat miles (millions)
39,941
38,542
3.6
Cargo ton miles (millions)
476
416
14.6
Passenger load factor
84.0%
83.9%
0.1 pts
Passenger revenue yield per passenger mile (cents)
13.28
12.00
10.7
Passenger revenue per available seat mile (cents)
11.15
10.07
10.7
Cargo revenue yield per ton mile (cents)
35.19
32.79
7.3
Operating expenses per available seat mile, excluding Regional Affiliates
(cents) (1)
12.20
12.29
(0.8)
Fuel consumption (gallons, in millions)
645
636
1.5
Fuel price per gallon (dollars)
2.24
2.06
8.3
Regional Affiliates
Revenue passenger miles (millions)
2,352
2,153
9.2
Available seat miles (millions)
3,197
2,947
8.5
Passenger load factor
73.6%
73.1%
0.5 pts
AMR Corporation
Average Equivalent Number of Employees
American Airlines
65,800
66,400
Other
12,800
12,300
Total
78,600
78,700
(1)
Excludes $676 million and $630 million of expense incurred related to
Regional Affiliates in 2010 and 2009, respectively.
AMR CORPORATION
OPERATING STATISTICS
(Unaudited)
OPERATING STATISTICS BY REGIONAL ENTITY
American Airlines, Inc.
Three Months Ended September 30, 2010
Entity Results
RASM1 (cents)
Y-O-Y Change
ASMs2 (billions)
Y-O-Y Change
DOT Domestic
10.91
9.8%
23.8
1.0%
International
11.51
11.9
16.1
7.7
DOT Latin America
11.88
6.9
7.4
10.0
DOT Atlantic
11.33
15.6
6.7
2.4
DOT Pacific
10.79
21.1
2.0
19.2
American Airlines, Inc.
Three Months Ended September 30, 2010
Entity Results
Load Factor (pts)
Y-O-Y Change (pts)
Yield (cents)
Y-O-Y Change
DOT Domestic
84.8
(0.4)
12.87
10.3%
International
82.8
0.9
13.91
10.7
DOT Latin America
80.4
(1.2)
14.77
8.5
DOT Atlantic
85.3
2.6
13.28
12.1
DOT Pacific
83.2
3.0
12.97
16.8
1.
Revenue per Available Seat Mile
2.
Available Seat Miles
AMR CORPORATION
NON-GAAP AND OTHER RECONCILIATIONS
(Unaudited)
American Airlines, Inc. Mainline Jet Operations
Three Months Ended September 30,
(in millions, except as noted)
2010
2009
Total operating expenses
$ 5,547
$ 5,368
Less: Operating expenses incurred related
【在 h******s 的大作中提到】
: i guess ER leak le
: must be good
: this pre er run never happen before
| S****r
发帖数: 472 | 6 You will see a great post er run.
【在 h******s 的大作中提到】
: i guess ER leak le
: must be good
: this pre er run never happen before
| g***l
发帖数: 18555 | | a*****k
发帖数: 356 | | h******s
发帖数: 3420 | 9 turn around la !
what is your target price?
Prices
Airways and
Airlines
the
of $
【在 o*******n 的大作中提到】
: AMR Corporation Reports Third Quarter Profit of $143 Million
: Substantial Improvement Compared to Last Year, Despite Higher Fuel Prices
: Recent Highlights Include: Launched Joint Business with British Airways and
: Iberia
: Received Tentative DOT Approval for Antitrust Immunity with Japan Airlines
: Enhancing Strategic Position in Los Angeles
: AMR Corporation On Wednesday October 20, 2010, 11:00 am
: FORT WORTH, Texas, Oct. 20 /PRNewswire-FirstCall/ -- AMR Corporation, the
: parent company of American Airlines, Inc., today reported a net profit of $
: 143 million for the third quarter of 2010, or $0.39 per diluted share.
| i***o
发帖数: 778 | | | | i***o
发帖数: 778 | | o*******n
发帖数: 2035 | | g***l
发帖数: 18555 | | T******J
发帖数: 829 | | d******e
发帖数: 6945 | 15 beat的比较多，预期是0.32.
****************************
Earnings (Loss) Per Share
Basic
$ 0.43
$ (1.26)
Diluted
$ 0.39
$ (1.26) | S****r
发帖数: 472 | 16 Beat is not important. It's first time the AA has made money in 2-3 years.
Hopfully it begins the trend to be profitable airline. | T******J
发帖数: 829 | | g**********7
发帖数: 2026 | 18 飞机的起飞是今天市场最重要的刺激因素，因为这是最直接的全球经济转暖的信号。
飞机不仅盈利，而且正在增加新的线路，比如lcc 中国 |
|
